Get the latest insights on price movement and trend analysis of Grey Cast Iron in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Grey Cast Iron Price Trend for the First Half of 2023
In Asia-Pacific region, the prices of grey cast iron fell gradually in the first quarter of 2023 as the inventory level of raw materials stockpiled. Amid weak demand and rising concerns over pollution, several production plants put a halt on their production rates. In the latter half of the second quarter, the trend stabilized with support from downstream casting industries. However, the first half struggled with the ample availability of the product, weak demand and falling prices of iron ores.
The market conditions of grey cast iron in Europe supported the upward trajectory of the prices. The string market dynamics were supported by the high demand and rise in new orders. The northward trend was also influenced by the limited availability of supply of grey cast iron, a halt in production activities and rising interest of buyers in this sector in the first quarter.
In the second quarter of 2023, the uprising trend of grey cast iron prices stabilized, as the demand from automotive and other related sectors remained stagnant. In addition to this, the replacement of grey cast iron with other options due to feeble production rates negatively impacted the price trend of grey cast iron.
The price trend of grey cast iron in North America was flat throughout the first and second quarter of 2023. The demand for the product in the market was stable amid the financial pressure caused by the failure of two major US banks. However, the manufacturing rates surged, and the market for grey cast iron gained its momentum with enough support from the demand sector.
The construction and automotive sector were stable till the middle of second quarter but towards the last months of the second quarter, these sectors also started showing retarded demand, that negatively affected the price trend of grey cast iron.
According to Procurement Resource, the price trend of Grey Cast Iron is estimated to showcase a mixed trajectory as the demand from construction and automotive sectors is expected to be slow and high availability of grey cast iron in the global market will cast a negative shadow on its pricing fundamentals.
Procurement Resource provides latest prices of Grey Cast Iron. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Grey cast iron is an allow of iron and carbon with graphite flakes. The alloy has many striking features such as thermal conductivity, vibration damping, etc. This makes it a suitable choice in the manufacturing of engine blocks, pipes, and machinery parts. Its unique structure grants corrosion resistance and wear properties. However, its lower tensile strength and impact resistance, compared to steel, make it suitable for applications where these qualities are less critical.
|Product Name||Grey Cast Iron|
|Industrial Uses||Automotive industry, Wind turbine components, Machine Tool Structures, Hydraulics and pneumatics|
|Supplier Database||TATA Steel, S.A.I.L, Doston Iron Castings, Ashland Foundry and Machine Works, Dandong Foundry, Willman Industries|
|Region/Countries Covered||Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The cast iron and pig iron scraps in cupola furnace are melted in the initial step of this process. The liquid mixture is then put into molds made of dry sand. The castings are then retrieved, cleaned, and finished for upcoming commercial uses after the molds have had time to cool.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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